I eliminate the need to keep employing resources to keep up with the ever increasing regulatory burden. I automate the manual aspects of compliance, allowing my colleagues to effortlessly take real time assessments on subjects’ risk

The advantages that such solutions are bringing to the table are making the process of compliance incredibly more efficient, and most importantly they are reducing the risk that organisations are running on their own data, saving not only on fines but also on reputation – something that nowadays is key and above everything else.

There is light at the end of the tunnel, as we are seeing jurisdictions that are starting to warm up to the idea that new online technologies could replace the need of actually meeting the subject in person. Malta, Germany and Spain have already amended their directives to indicate such conformance and clients are starting to use this technology to reduce their risk at no cost whatsoever.

KYC Portal allows any customer to predefine the entire compliance process based on the ever evolving nature of guidelines set by regulators. The FCA issued the latest guidelines on PEPs (FCA’s Guidance Document - FG 17/6) It took our customers a total of 4 hours to apply the following changes within their configuration of KYC Portal to have everything in line with such guidelines. Even better… the instant that this is setup KYCP automatically trails through all past subjects sitting in your system to re-evaluate their new risk.

Aqubix launch KYC Portal for Gaming, the ONLY solution on the market that provides full compliance with the MGA/FIAU 2017 AML and CFT requirements straight out of the box - providing a platform through which the data fields, mandated documents, questionnaires, risk factors and face-to-face interviewing are preset, ready for integration with existing infrastructure allowing the gaming industry, regardless of an operator’s size to hit the ground running and be fully compliant in as little as two weeks from initial install.

KYCP redefines the concept of compliance and AML due diligence. The platform revolutionises, head-on, operational issues of compliance which have so far been thought of as insurmountable or simply dismissed as being inherent to the process. With the prevailing regulatory climate, the processes are becoming more cumbersome year on year, and automation is inevitably the only way forward.

On Day 2 of the Programme, Kristoff Zammit Ciantar, CEO, Aqubix, will be hosting a roundtable, related to Investigating new technologies, focusing on Using the latest in RegTech innovation to reduce risk exposure to a single day- Investigating new technologies.

On Day 1 of the Programme, Kristoff Zammit Ciantar, CEO, Aqubix & Ivan Bonello, CTO, Aqubix will be delivering a speech related to Defining the place of innovation in the bank, focusing on Automating compliance: the problem, the solution, the innovation.

In addressing the inefficiencies inherent to the practices governing the compliance sector, the KYC Portal platform, launched in late 2016, already delivers a unique set of ground-breaking innovations that help streamline the entire compliance process: from the delegation of document collection, custom automated risk score calculations allowing for zero human input in the onboarding of all customers and the equally system-determined acceptance of low-risk subjects (allowing organisations to refocus their expertise where it really matters), automating the ongoing reviews of customer accounts, minimising exposure to risk to a single day and reducing costs by over 60%.

It is no surprise that with ever more stringent legislation, especially in the realm of anti-money laundering and beyond, all-too-often one-size-fits-all policies and regulations are stifling growth and exponentially increasing the onus on business across sectors and industries, but ever more so in the financial services provision industry.

Banks and other financial services have been buckling under the increasing compliance burden for years. But now there is a genius automated system that helps keep them whiter than white. Aqubix Director Kristoff Zammit Ciantar explains.

With the enactment of ever more stringent regulations established by diverse legislative acts, dictating the discovery of the origin of funds, not least the EU’s 4th anti-money-laundering directive, the reality is that the requirement to conduct complete due diligence of prospective clients, suppliers and sources of business is an entirely inescapable one.

It is becoming ever more apparent that the only effective manner in which a risk based approach to compliance can be feasibly sustained is through a centralised, mostly automated set of processes, tailored to meet each operator’s unique needs, specific to the industry and areas of operations.

Aqubix has been selected to demo KYC PORTAL, at FinovateEurope 2017 being held in London in February. KYC PORTAL is the first centralised solution on the market that collates all information for your customer due diligence, compliance and AML procedures.

KYC Portal is an essential CDD platform that goes beyond simply identifying who your customers are but further integrates with your existing systems and third party data suppliers to monitor their ongoing status, transaction analyses and reporting.

In a case of fighting fire with fire, the Aqubix KYC Portal is a fully fledged solution that handles customers prior to on-boarding, with full due diligence checks and monitors, independently of jurisdiction or industry of operations, with seamless integration with any number of third party screening services, existing customer management platforms and internal databases.

KYC Portal provides the perfect gaming framework to address all the Anti-money laundering (AML) requirements that are becoming one of the most pressing regulatory areas for gambling firms across all major jurisdictions.

KYC Portal is the first tool on the market to allow for instant face-to-face video interviews within the tool itself. This feature does not require any plugins or local applications to run and also allows for the instant recording of all the conducted interviews.

KYC Portal offers a full secure tamper proof solution ensuring full auditing on all elements of the solution as well as a raw file encryption level that ensure extra peace of mind when it comes to the files and documents that are retained within the system itself.

KYC Portal ensures optimum security measures including two-factor authentication when it comes to any communication with the subject. The subject has to authenticate himself using the 6 digit secure key number that is sent to his mobile phone by KYC Portal.

KYC Portal allows you to create an organigram on any entity within your application instantly, irrespective of the complexity of the relationship itself. The system allows for the definition of the field values that appear together with each entity in the organigram as well as the type of icon for each entity to further the ability of customising the tool itself.